Figure Heloc

Figure Heloc is building a blockchain-based protocol layer designed specifically for institutional debt markets. Rather than pursuing a general-purpose crypto use case, the project centers on loan assets — turning instruments like HELOCs (Home Equity Lines of Credit) and private credit into standardized on-chain formats that can flow more efficiently through digital markets. The ecosystem spans both primary issuance and secondary trading. Figure Connect handles the standardization and tokenization of debt assets, while Figure Markets operates as a dedicated venue for trading those digital loan instruments with around-the-clock settlement. Rounding out the model are decentralized custody solutions and full support for crypto and fiat on- and off-ramps, bridging traditional lending workflows with on-chain infrastructure. This focus gives Figure Heloc a distinctive position within the real-world asset segment: it targets the plumbing behind origination, trading, and settlement for institutional credit rather than consumer-facing DeFi. The trade-off is clear — its long-term relevance hinges on adoption across debt markets, which tend to move more slowly and carry greater operational complexity than purely crypto-native ecosystems.